St Paul Travelers has agreed to stop paying contingent commissions in the US.
Connecticut Attorney General Richard Blumenthal has announced that the property casualty insurer will adhere to a settlement it reached with three US states to forego contingent commissions.
Contingent commissions have come under fire from US regulators for leading to potential conflicts of interest as intermediaries receive money from insurers for transacting large amounts of business with them.
Regulators in Connecticut, Illinois and New York had argued that brokers should eschew contingent commissions to avoid any perception that they were not acting in the best interests of their clients.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
